Two-wheelers are an Indian commuter’s go-to form of transportation; every Indian family mostly owns a two-wheeler and uses it as their daily driver. Bikes and scooters are some of the best vehicles to travel through busy market roads, city traffic, highways, gullies, villages, cities, and even potholes. Bike ownership is more than just commuting; it is about having the freedom to travel and being adventurous.
Owning a bike might not be financially viable for all, and that’s where second-hand bikes come in place. Purchasing used bikes turns out to be an economical option for people who can not afford two-wheelers.
Second-hand bike loan on EMI
With many platforms, financial institutions, and banks providing loans, it has become easy for people to purchase second-hand bikes on EMI, as it doesn’t put financial pressure to spend in one go and makes it easier for them to own a bike with monthly installments.
You can choose the loan that best suits your needs, as many loan providers on the market, including Manba Finance, offer competitive interest rates.
Why should you choose a second-hand bike?
- Economical Decision: Buyers can get great models at lower prices, spending only a fraction of what they would pay for new bikes.
- Wider Range: Access to a broad selection, including scooters, commuter bikes, and super bikes, to suit various needs.
- Environmentally Friendly: Extends the life of existing bikes, reducing demand for new ones and cutting down on emissions.
- Minimum Maintenance Costs: Older bikes use well-known technology, making spare parts easy to find and repairs more affordable.
- Minimal Depreciation: Older bikes have already undergone significant depreciation, losing value at a slower rate than newer models.
- Modifications and Customizations: Easier to customize older bikes without the risk of voiding warranties, allowing for personalized touches.
- Reduced Insurance Costs: Insurance premiums for used bikes are generally lower than for new ones, offering additional savings.
Benefits of buying a second-hand bike on EMI:
Here are some benefits you can avail of from buying a second-hand bike on EMI with Manba Finance:
- Simple and easy application process: The application process for getting loans has become tremendously easier and hassle-free because of minimal documentation and a paperless process.
- Quick approvals: Getting instant loans on used two-wheelers is easier than with newer vehicles, as they have lower eligibility requirements.
- Affordable: With monthly payments, it becomes easier and more affordable for consumers to pay a fixed monthly installment that suits their budget.
- Flexible repayment terms: When you choose your tenure/terms, you can manage your finances in a better manner as you select your repayment terms.
- Competitive rate of interest: You can avail the best rate of interest for yourself with so many competitors in the market. Manba Finance has one of the best rates of interest in the used two-wheeler loan market.
How to Choose the Right Second-Hand Bike
When buying a second-hand bike, it’s important to make an informed decision. Here are some factors to consider:
- Bike condition: Always inspect the bike thoroughly. Check for any signs of wear and tear, rust, or damage.
- Mileage: The bike’s mileage will give you an idea of its usage. Lower mileage usually indicates less wear on the engine.
- Brand and model: Choose a reputable brand and a model that has a good track record in terms of performance and reliability.
- Bike inspection: If you’re not confident in assessing the bike’s condition yourself, consider hiring a professional mechanic for a thorough inspection.
- Negotiating the price: Don’t hesitate to negotiate the price with the seller, especially if you find any issues during the inspection.
Here’s why you should choose Manba Finance:
When it comes to second-hand bike loans, Manba Finance stands out as a leading provider.
- Competitive Interest Rates: Manba Finance offers second-hand bike loan interest rates that are highly competitive, ensuring you get the best deal possible.
- Flexible Repayment Terms: With Manba Finance, you have the option to choose from various repayment tenures, allowing you to pick a plan that aligns with your financial situation.
- Minimal Documentation: The documentation required for bike purchase on EMI is minimal, making the application process quick and easy.
- Quick Approval Process: Thanks to their efficient processing system, Manba Finance provides fast approval for second-hand bike loans, so you can get on the road as soon as possible.
Used Bike Loan Eligibility Criteria
Before applying for a loan, it’s essential to know the eligibility criteria. Generally, you should be:
- A salaried or self-employed individual
- Between 18 to 60 years of age
- Having a stable income source
- Possessing a valid ID and address proof
Additionally, ensure you have the necessary documents required for bike purchase on EMI, which typically include:
- Proof of identity
- Proof of address
- Proof of income
- Bike details
Calculate your Pre-owned Bike EMI and apply for your second-hand bike loan with Manba Finance now!
Buying a second-hand bike on EMI is a smart, budget-friendly choice with flexible payments and competitive rates. With providers like Manba Finance offering easy applications and affordable options, getting your dream bike is simple. Apply for a loan today and ride home your new bike!
